Refinance cash out equity loan

Refinance cash out equity loan loan was interest-bearing. The relevant statute in the MLA defines an interest-bearing loan as a loan in which the debt is expressed as the principal amount and interest is computed, charged, and collected on unpaid principal balances outstanding from time to time. While precomputed loans are required by law to be repaid in monthly installments, the MLA statutes governing interest-bearing loans do not include a monthly installment mandate, Justice French wrote.

The General Assembly could … have included a separate provision in the MLA that specifically requires that interest-bearing loans be repayable in multiple installments, just as it did with precomputed loans by requiring monthly installments, she reasoned. [I]t did not do so. Reading the statute according to the natural and most obvious import of the statutory language, we conclude that R. 1321. 51(F) is not ambiguous. Justice French then addressed the question whether the STLA bars MLA lenders from making payday-type loans.

Refinance cash out equity loan

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Refinance cash out equity loan

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Refinance cash out equity loan